Sheaff Brock Investment Advisors LLC Sells 2,650 Shares of CSX Co. (NASDAQ:CSX)

Sheaff Brock Investment Advisors LLC trimmed its holdings in CSX Co. (NASDAQ:CSX) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,354 shares of the transportation company’s stock after selling 2,650 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in CSX were worth $1,385,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CSX. Life Planning Partners Inc acquired a new stake in CSX in the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the first quarter worth about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter worth about $34,000. Burkett Financial Services LLC acquired a new stake in CSX in the fourth quarter worth about $34,000. Finally, Avion Wealth increased its position in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group lowered their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Susquehanna decreased their target price on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. Finally, Sanford C. Bernstein boosted their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Stock Up 2.1 %

Shares of CSX traded up $0.72 on Friday, hitting $34.32. The company’s stock had a trading volume of 9,975,620 shares, compared to its average volume of 11,809,636. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average price is $33.43 and its 200-day moving average price is $35.05. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $67.09 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.80 and a beta of 1.20.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is 26.37%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.